Bank Zero plans midyear 'controlled launch'
Fintech nature enables beta launch targeting business sector clients
The coronavirus lockdown has disrupted the way SA conducts business, but thanks to its "fintech" characteristics, new kid on the block Bank Zero, which is chaired by Michael Jordaan, is still eyeing a mid-2020 launch. "It is likely to be a controlled launch where we only allow a limited number of customers in, learn from their feedback to improve and then iterate with more newcomers," said Jordaan this week in response to questions from Business Times. "Techies call this a beta launch and it is the accepted norm in places like Silicon Valley. In this sense we are more a fintech than a traditional bank."Fintech, or finance technology, generally refers to technology that automates financial services or at least brings a lot of functions online so that customers can transact using computers or smartphones. The fast-growing fintech sector in SA has disrupted the financial services industry and influenced the offerings of traditional banks. Jordaan, who is a former First National Ban...
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